Enhanced process for conducting potential problem analysis

A methodology for prioritizing between a number of anticipated problems employs a mathematical formula that considers probability and seriousness for each of a plurality of identified problems. Each of a plurality of problems is assigned a value for its seriousness, a value for its coefficient of se...

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Bibliographic Details
Main Author PURCELL RICKY W
Format Patent
LanguageEnglish
Published 01.04.2004
Edition7
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:A methodology for prioritizing between a number of anticipated problems employs a mathematical formula that considers probability and seriousness for each of a plurality of identified problems. Each of a plurality of problems is assigned a value for its seriousness, a value for its coefficient of seriousness, and a value for the probability of its occurrence. Once each of the identified problems is assigned these numerical values, then for each problem, the values of probability (P), coefficient of seriousness (sigma) and seriousness (S) are entered into the following formula: [PxS]+[sigmaxS]=RP. The relative priority (RP) value that is calculated by this formula for each rated problem is then ranked to enable the decision-maker to decide which problems deserve to receive the most attention in the shortest period of time.
Bibliography:Application Number: US20020259993